INSUBCONTINENT EXCLUSIVE:
Fivetran, a startup that helps companies move data from disparate repositories to data warehouses, announced $44 million Series B financing
today, less than a year after collecting a $15 million Series A round.Andreessen Horowitz (a16z) led the round with participation from
existing investors Matrix Partners and CEAS Investments
As part of the deal, Martin Casado from a16z will join the Fivetran board
they raised a little sooner than expected, but they needed a cash infusion to keep up with the steady growth they have been seeing
He said the company also wanted to get the funding done while the capital markets were still strong
it into a warehouse (e.g., Snowflake, BigQuery or RedShift) for SQL access and further transformations, if needed
has over 750 customers and a16z is included among them
Last year it had 80 employees at the time of its Series A; today it has 175
He says that over the last 12 months revenue has grown 3x.With 150 connectors today, the company wants to continue to expand its array of
data connection tools and cover more data requirements
But he says the connectors are complicated and that will take an investment in more engineering talent
